How to improve your credit score
Did you just check your credit score and it sucks? What are you going to do? Here are step by step instructions on how to improve your credit score. It won’t happen overnight but it can happen sooner than you might think. Have you ever heard of people who after going bankrupt were able to purchase home within a couple of years after? It’s possible. Whether you are trying to buy a … [Read more...]

4 examples of Good Debt
Some talking heads and financial gurus advise people to avoid debt in any situation. Without a doubt, there are some good reasons one should borrow money to improve their future. Here are four examples when it is okay to take on debt.
1. School
When attending trade school or a university, one can increase their earnings potential exponentially. In fact, after graduating high school, one must … [Read more...]

Credit Card Debt Consolidation
Do you have too much credit card debt? A great way to lessen your burden when it comes to excessive credit card debt is to consolidate it. This is where you create another loan that will pay off your previous debt at a lower interest rate. This should effectively lower your monthly payments. If you maintain the payments you were making before your credit card debt consolidation then you … [Read more...]

What is the best way to get out of debt?
There are only 2 ways to get out of debt, make more money or reduce your expenses. Both of those options include discipline and budgeting.
How to make more money?
This may sound silly but sometimes just making a little more money can make your financial life more manageable. Here are a couple of ideas of how to make more money. If you are currently employed maybe there is a … [Read more...]

Simple Debt Reduction Plan
If you've finally gotten to the place in your life where you are ready to really put together a debt reduction plan that makes sense for you than these steps may help you out.
Step 1: Your debts
Before you can get a firm handle on how to take care of your debt you need to take a moment to jot them all down in one place. List them by how much you owe, interest rate, monthly … [Read more...]

To Consolidate Debt or not to Consolidate Debt?
That is the question. The answer is ... most likely yes. If you have the creditworthiness to have several higher interest rate debts consolidated to a lower interest rate than it's hard to see why it wouldn't make sene to do. When thinking about consolidating your debt there is really only two considerations to make, will you have lower monthly payments and will you pay … [Read more...]

What does it mean to consolidate debt?
The short answer of what it means to consolidate debt is to bundle all or a portion of your current outstanding debt load and combine the balances owed and reduce the interest rate to on all of them to come up with a single payment that should be far less that all of the payments that were due combined.
Should you consolidate debt?
That is a great question that does not have a … [Read more...]

Credit Card Debt Consolidation
In the simplest of terms a credit card debt consolidation program is the process of negotiating with your current creditors to consolidate all of your indidual high interest rate credit card payments for one, lower monthly payment.
If you 've found yourself with more credit card debt than you can handle and your monthly payments have become overwhelming than a credit card debt … [Read more...]

Using your home equity as a debt solution.
If you are in the enviable position of having equity in your home and/or investment property right now but are burdened with other creditors than this may be a debt solution worth looking into. The way to have access to the money that is in the value of your house without selling to a new buyer is to refinance. By refinancing you are taking equity out of your property and will … [Read more...]

Types of Debt
All Hands on Debt EdebtAdvice.org Infographic (Click for full size)
Debt
Check out this great infographic outlining the types of debt most people accumulate and how to avoid them.
Credit Card Debt
The US holds approximately 1 trillion dollars in outstanding credit card debt. With all of this debt, chances are good that you or someone you know have contributed to this total. Avoid one of the … [Read more...]

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We want to create a singular place online to access practical information on understanding the ramifications of debt with your financial life. We hope you find this site useful and if there is anything we can do to make it better, please let us know.